Advisors to Swissfirst Bank are contacting potential buyers with details of the parts of its operations that are up for sale, according to D...

Advisors to Swissfirst Bank are contacting potential buyers with details of the parts of its operations that are up for sale, according to Dow Jones Newswires. Credit Suisse is attempting to find a buyer for Swissfirst's private banking business, which has SFr3.56 billion of client assets under management. Swissfirst mandated Credit Suisse to seek potential buyers following the damage caused to its business by growing suspicion of insider trading. This was sparked by pension funds selling stock immediately before last year’s merger of Swissfirst and Bellevue banks thereby depriving the funds of substantial gains. Investigations by various Swiss authorities are ongoing. Private banking represents the smallest part of Swissfirst's activities. Its main businesses are brokerage and asset management for institutional clients such as Swiss pension funds.